inTest Corp
intest.comWhat Do They Do?
Sells test and process equipment for semiconductor manufacturers, automakers and industrial manufacturers, including thermal test systems, semiconductor test equipment and precision induction heating systems.
10-K for FY2025, filed Mar 12, 2026We are a global supplier of innovative test and process technology solutions for use in manufacturing and testing across a wide range of…View ↗
The Semi market includes both the broader semiconductor manufacturing industry as well as the front-end and back-end sectors within the…View ↗
In the Auto/EV market, we provide solutions that help in the quality and productivity of both internal combustion and EV manufacturing and…View ↗
The Industrial market is the broadest, most diverse area we serve with a majority of our products serving a variety of applications.…View ↗
Induction Heating - Our induction heating products are used in process applications where precision-controlled heating is needed. Customers…View ↗
How Do They Make Money?
Customers generally place individual purchase orders for specific products, services or equipment leases. InTest earns product-sale revenue when products ship, service revenue when work is performed, and lease revenue over the lease term.
10-K for FY2025, filed Mar 12, 2026We recognize revenue in accordance with the guidance in ASC Topic 606 - Revenue from Contracts with Customers. We recognize revenue for the…View ↗
We lease certain of our equipment under short-term leasing agreements with original lease terms of six months or less. Our lease agreements…View ↗
Our contracts with customers are generally structured as individual purchase orders which specify the exact products or services being sold…View ↗
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10-K for FY2025, filed Mar 12, 2026
FY2025 revenue by product or service ↗
$113.8M
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10-K for FY2025, filed Mar 12, 2026
$113.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Thermal test
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
18%
FY2022: 19%
|
Thermal test, FY2025
$20.4M Sources
|
Sold outright |
|
Thermal process
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
19%
FY2022: 33%
|
Thermal process, FY2025
$21.5M Sources
|
Sold outright |
|
Semiconductor test
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
17%
FY2022: 24%
|
Semiconductor test, FY2025
$18.8M Sources
|
Sold outright |
|
Video imaging
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
7.1%
FY2022: 8.1%
|
Video imaging, FY2025
$8.1M Sources
|
Sold outright |
|
Flying probe and in-circuit testers
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
7.1%
FY2022: 6.4%
|
Flying probe and in-circuit testers, FY2025
$8M Sources
|
Sold outright |
|
Alfamation™ products
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
17% |
Alfamation™ products, FY2025
$19.9M Sources
|
Sold outright |
|
Service/other
Sold outright
10-K for FY2025, filed Mar 12, 2026 |
15%
FY2022: 9.0%
|
Service/other, FY2025
$17.1M Sources
|
Sold outright |
Who Are Their Customers?
Semiconductor manufacturers, foundries, test providers and equipment makers buy through InTest staff, representatives or distributors; manufacturers in automotive, defense, industrial, life sciences and security markets also buy directly or through representatives and distributors.
10-K for FY2025, filed Mar 12, 2026Electronic Test Products: In North America, we sell our InTest EMS products to semiconductor manufacturers through internal account…View ↗
In Europe, we sell to semiconductor and ATE manufacturers through our internal sales staff. Technical support is provided by our staff in…View ↗
Our robotics-based electronic test equipment and automated test programming services are sold in North America through a combination of…View ↗
Environmental Technologies Products: We market our Temptronic®, Sigma, Thermonics®, and North Sciences brands under the umbrella name of…View ↗
Process Technologies Products: We market our EASYHEAT™ and EKOHEAT® precision induction heating equipment to manufacturers who require…View ↗
We market our products to end users including semiconductor manufacturers, third-party foundries and test and assembly providers, as well…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $2.5M in FY2025, but brought in more cash than it spent: $5.7M of free cash flow.
10-K for FY2025, filed Mar 12, 2026
−$3.7MView ↗
10-K for FY2025, filed Mar 12, 2026
−$2.5MView ↗
10-K for FY2025, filed Mar 12, 2026
$5.7MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
$474KView ↗
- ▲ Now profitable
- vs −$503K in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
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Jul 31, 2026
Revised second-quarter guidance
Issued revised guidance for expected second-quarter financial results.
Sources
8-K, filed Jul 31, 2026
On July 31, 2026, InTest Corporation (the “Company”) issued a press release providing revised guidance regarding its expected financial…View ↗
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Apr 2, 2026
CEO departed and was replaced
Richard Grant stepped down as CEO, and Richard Rogoff was appointed President and CEO.
Sources
8-K, filed Apr 2, 2026
On March 31, 2026, Richard N. Grant, Jr. stepped down as President and Chief Executive Officer of InTest Corporation (the “Company”) and…View ↗
Growing. Revenue grew 34% in 4 years, from $84.9M in FY2021 to $113.8M in FY2025, about 8% a year.
Alfamation added
The latest report adds Alfamation’s test and measurement solutions for automotive, life sciences and specialty consumer electronics markets to the portfolio.
10-K for FY2022, filed Mar 22, 2023 10-K for FY2025, filed Mar 12, 2026In line with our 5-Point Strategy, a key element of our growth is acquisitions. During 2021, we completed three acquisitions, Z-Sciences…View ↗
Who Do They Compete With?
Competes with Advantest, Esmo, Reid-Ashman Manufacturing, Teradyne, Digitaltest, Seica, SPEA, Takaya, NOFFZ Technologies, Konrad Technologies, TST Total Solutions Technology, MCD Elektronik, Averna Technologies, Intrepid Control Systems, GÖPEL electronic, TZ Electronic Systems, Solectrix, FTS Systems, MPI, and Cincinnati Sub-Zero Products
10-K for FY2025, filed Mar 12, 2026Advantest Corporation, Esmo AG, Reid-Ashman Manufacturing Inc., and Teradyne, Inc.View ↗
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